Beginning of a New Chapter as Werner Founder CL Werner Transitions

Werner Announces Planned Transition of its Founder and Related Proposed Secondary Offering of Common Stock

OMAHA, Neb., June 02, 2020 (GLOBE NEWSWIRE) -- Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, today announced that Clarence L. Werner stepped down as its Executive Chairman effective May 31, 2020. Mr. Werner will continue to serve as Chairman of the board of directors through the end of his current term, which is expected to end in May 2021, and at that time it is expected that he will become Chairman Emeritus. In connection with this transition, the board of directors appointed Derek Leathers, the current Chief Executive Officer and President of the Company, as a member and Vice Chairman of the board of directors effective May 31, 2020. Mr. Werner has recommended to the board of directors that Mr. Leathers be named Chairman of the board of directors, in addition to Chief Executive Officer and President, when Mr. Werner’s term ends.

In connection with CL Werner’s transition, the Company also announced today an underwritten public offering of 12,845,930 shares of its common stock by the Clarence L. Werner Revocable Trust, of which Mr. Werner is the grantor and sole trustee, subject to market conditions and other factors.  The Clarence L. Werner Revocable Trust is also expected to grant the underwriter of the offering a 30-day option to purchase up to an additional 1,284,593 shares of common stock.  Morgan Stanley is acting as the sole underwriter of the offering.  The Company is not selling any shares of common stock in the offering, and the Company will not receive any proceeds from the offering by the selling shareholder.

Werner Enterprises, Inc. has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement, and other documents Werner Enterprises, Inc. has filed with the SEC for more complete information about Werner Enterprises, Inc. and the offering.  You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.  Alternatively, copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at [e-mail].